Analysts see possible China RRR cut coming – by fx_ross China USDCNY AUDUSD
conomic recovery and stabilizing market confidence. PBoC Governor Yi Gang recently said that a RRR below 8% provides support for the real economy after 14 reductions in the past five years.
Meanwhile, China's National People Congress kicked off, with a conservative growth target for 2023 announced at 5% compared to the market's expectations of a 5-5.5% target range. Other economic targets were broadly similar to last year: fiscal deficit at 3% , special local government bond quota at CNY3.8tn , jobs creation at 12mill and CPI inflation at around 3% .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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